Analyst Philip Shen commented, "HQCL delivered a Q3 beat and provided weak Q4 revenue guidance. We believe the weak revenue guide likely reflects a weak ASP outlook and would look for Q4 shipment volumes to be inline with our prior expectations with HQCL reiterating its 2016 shipment guidance. We see the acceleration in ASP declines pressuring margins in Q4 and into 2017. With a lack of visibility into earning power ahead, we maintain our Neutral rating. PT to $10."

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